Happy Friday everyone!

Our top stories today: Elon Musk’s xAI is in talks to lease data center capacity in Saudi Arabia, tapping the kingdom’s cheap energy and chip access for AI model training, Bloomberg reports. Meanwhile, Etihad Airways and Air Arabia Abu Dhabi are quickly filling the gap left by Wizz Air’s exit, launching new routes and expanding fleets. In startup news, Abu Dhabi-based FemTech firm Ovasave raised $1.2 million to scale its AI-powered fertility platform across the GCC, as investor interest in women’s health innovation gains real momentum in the region.

But before that: For quick daily updates, follow us on Instagram, and you can watch our Smashi Business Show live every weekday from 10AM onwards (UAE time). Also, you can join our Whatsapp channel to receive updates from the business world.

Musk’s xAI Eyes Saudi Data Centers In Bid For Cheap Power And Strategic Ties: Bloomberg

🔹 What Is It About

Elon Musk’s AI startup xAI is in early talks to lease data center capacity in Saudi Arabia. The company is exploring deals with two partners—Saudi-backed Humain, offering gigawatt-scale capacity, and another firm building a more immediate 200-megawatt facility. xAI would rent space, not own the infrastructure, to power its compute-heavy models like Grok.

🔹 Why It Matters

AI firms like xAI need massive computing resources, which come with enormous power demands. Saudi Arabia offers xAI a rare mix of cheap energy, access to specialized chips, and political goodwill—an appealing contrast to growing regulatory friction in the US. If successful, the Humain deal could lead to one of the world’s largest AI data hubs.

🔹 What’s Next

While Humain’s facility is still years from completion, the 200MW option may offer xAI quicker deployment. The company is also weighing options in the UAE and Africa. Internally, xAI’s infrastructure push is led by Ross Nordeen, with potential ties to earlier Saudi investments and ongoing talks with Abu Dhabi-based G42.

Binance Launches World’s First Sharia-Compliant Multi-Token Staking

Binance has introduced Sharia Earn, a groundbreaking, Sharia-certified staking product built for the global Muslim community. Developed in partnership with Amanie Advisors, this new platform allows users to earn passive income on BNB, ETH, and SOL while staying fully aligned with Islamic finance principles.

It’s a major step toward financial inclusion, bridging halal investing with cutting-edge blockchain technology. Sharia Earn empowers faith-based investors with a transparent, values-driven way to participate in the crypto revolution. Now available in 30+ countries across the Middle East, South Asia, and North Africa.

Learn more and start staking the halal way.

Markets

Air Arabia Abu Dhabi and Etihad Seize Wizz Air Vacancy With Ambitious Expansion

🔹 What Is It About

Air Arabia Abu Dhabi—Wizz Air’s main rival in the emirate—is ramping up operations in 2025 with a 40 % year‑on‑year capacity increase. CEO Adel Al Ali confirmed the airline has expanded its fleet to 12 Airbus A320s, with two more set to join by year‑end, though it remains uncertain if it will take over Wizz Air’s airport slots.

🔹 Why It Matters

With Wizz Air suspending Abu Dhabi operations, Etihad and its budget JV partner are moving swiftly to fill the void. Etihad Airways is launching multiple new routes to the Caucasus, Central Asia and Saudi Arabia — including Medina, Baku, Tbilisi and Yerevan — while also boosting frequency on key routes like Karachi.

🔹 What’s Next

Etihad is preparing for a potential IPO in 2025 — aiming to raise about $1 billion by selling up to 20 % of its shares — though the exact timing depends on shareholder approval. It reported stunning financial performance in 2024, including a net profit of approximately $476 million, tripling year‑on‑year. This capital plan is expected to fund further fleet expansion and network growth under its Journey 2030 strategy.

Smashi Sports – Your Home for Regional Sports

Want front-row access to the UAE’s top sports action?

Subscribe to Smashi.tv and stream every match from the UAE Basketball League, UAE Futsal League, UAE Volleyball League, and UAE Handball League — live. Smashi Sports also brings you exclusive coverage of the Emirates Drift Championship and the MINA Cup. Watch in HD, enjoy replays anytime, and stay updated with in-depth local coverage you won’t find anywhere else.

🎯 Subscribe Now for a Full Season Plan: Get 30% OFF and unlock full access to premium sports content all season long.

Ovasave Raises $1.2M To Expand GCC FemTech Platform From Abu Dhabi Base

🔹 What Is It About

Abu Dhabi-based FemTech startup Ovasave has raised $1.2 million in a pre-seed round led by PlusVC, Annex Investments, and U.S.-based 25 Madison. The funding will support the expansion of its AI-powered fertility and hormonal health platform across the GCC and enhance its corporate health partnerships. Founded in 2023 and incubated at Hub71, Ovasave offers services including at-home hormone testing, virtual consultations, and personalized reproductive health plans.

🔹 Why It Matters

Ovasave’s raise highlights rising investor confidence in FemTech within the MENA region—an industry projected to reach $3.8 billion by 2031. The startup aligns with UAE national healthcare reforms focused on digital innovation and preventive care. Its emphasis on underserved areas like perimenopause and menopause signals a shift toward more inclusive and personalized women’s healthcare solutions, further solidifying the UAE's push to become a regional health-tech hub.

🔹 What’s Next

With its pre-seed capital, Ovasave plans to launch operations in Saudi Arabia this summer, followed by wider MENA expansion over the next three years. Its upcoming app update will introduce advanced cycle tracking and AI-driven treatment protocols, while its corporate wellness program aims to integrate fertility support into employee benefits across the region.

👨‍💻From Smashi Business’ Desk

• Dreamers: From War Refugee to Real Estate Powerhouse: The Story of Mirwais Azizi

• Saudi Tech CEO Goes Viral After Calling Himself an “Idiot” Over Food Delivery Choice

• Exclusive: House of Pops Eyes European Expansion

• From inventing Dubai Chocolate to sharing his journey from Burj Al Arab to TEDx, Chef Noel Catiz joined the Lovin Dubai Show to talk desserts, ideas, and his deep love for Kanafa Nabulsi

• Israel’s Stock Market Is in the Green — But War Spending Is Bleeding the Economy Red

🔍In other news…

• Egypt grants Masdar ‘golden license’ for wind farm project

• IHC acquires UAE fintech lender eFunder

• Diriyah awards $1.5bn contract for Arena district

• Binghatti launches first International Sales Boutique in the U.K. to attract global investors

• Syria working on overhaul of income tax system

• Qatar posts $208 million second-quarter budget deficit as spending rises

• TikTok teams up with Visa to support SMB growth in UAE

🏦Crypto Corner

• Ripple Partners Ctrl Alt to Tokenize Dubai Real Estate on XRP Ledger

• You can soon use crypto when paying at Dubai Duty Free and when flying Emirates in new landmark deal

• UAE authority clarifies no Golden Visa issuance for crypto investors

• Dubai Land Department teams up with Crypto.com on digital real estate investment plan

• Bitcoin Miner Tied to Trump Sons Plans Dubai Crypto Trading Team

Follow Smashi Crypto to find out what’s news in the world of digital assets.

Latest from the Smashi Business Studio

Apple Podcasts: http://aug.us/40B9h6I

Spotify: http://aug.us/4exbk1m

Youtube: http://aug.us/3TYduO5

Were you forwarded this email? Subscribe here